Today, Stocks fall since investors worry about unemployment.

Even with stocks down for four days, major market indicators have given up only two week’s worth of gains.

The dow fell 29.93, or 0.3 percent, to 9280.67, pushing its four-day slide to 300 points,Or 3.1 percent. The S&P 500 index fell 3.29, or 0.3 percent, to 994.75, while the Nasdaq Composite index fell 1.82, or 0.1 percent, to 1967.07.

On Friday, the government will report the unemployment rate for August. Economists expect the rate to tick up to 9.5 percent, from 9.4 percent in July, and that a net total of 225,000 jobs were lost in August, down from 247,000 lost in July.

The jobless rate is widely expected to top 10 percent by next spring, before a recovery is strong and sustained enough to push that rate down.

With the recession showing signs of ending, all that strengthened the confidence of Fed officials that “the downturn in economic activity was ending”.



***The Wall Street Truth: Returns on investments don’t come directly from Wall Street. They arise from within you based on what you know and love.***

09/02/2009